Ryman closes Grande Lakes deal; operating-income outlook rises, per-share forecast falls

Ryman Hospitality Properties, Inc. (NYSE: RHP) completed its approximately $1.38 billion acquisition of Grande Lakes Orlando on September 1, 2026, adding the JW Marriott and Ritz-Carlton resorts to its portfolio. RHP Property GLO, LLC, a Ryman subsidiary, bought the properties from GLO Hotel Owner LLC, according to its Form 8-K. Alongside the close, the company raised the midpoint of its 2026 consolidated operating-income outlook while lowering its diluted income-per-share forecast.

Ryman funded the purchase with net proceeds from an underwritten registered public offering of 5,865,000 common shares at $117.00 per share, which closed August 12, 2026; a private placement of $700 million aggregate principal amount of 6.250% senior notes due 2035, which closed August 25, 2026; and cash on hand.

In its updated 2026 outlook, Ryman projected $11 million to $14 million in Grande Lakes Orlando operating income, with a $12.5 million midpoint. The consolidated operating-income midpoint rose by $12.5 million to $562.9 million, while the midpoint for diluted income per share available to common stockholders fell to $3.93 from $4.11. The distinction matters: the higher operating-income forecast does not translate into a higher per-share income forecast. These are company projections; the supplied disclosures do not establish how much of the per-share change is attributable to the acquisition or its financing.

The acquisition expands Ryman's group and meetings presence in Orlando. The company describes Grande Lakes as spanning more than 400 acres, with approximately 1,010 rooms at the JW Marriott, approximately 582 at the Ritz-Carlton and approximately 320,000 square feet of meeting and event space.

Readers should watch upcoming results against this guidance, integration progress, and any disclosed contribution to revenue per available room, or RevPAR. Already-published forecasts are distinct from unknown actual results.